Finance Ministry Announces Ad Hoc Bond Auctions.

The ministry announced that it would hold two additional auctions of local bonds next Monday and Thursday (Sept. 11 and 14), with 2- and 3 year bonds on offer Monday and 2- and 5-year bonds on offer Thursday. Previously the ministry had said it would hold auctions every two weeks, with the first on Sept. 4 (which raised $2m) and the next due Sept. 18. Oleksandr Klymchuk: The news is surprising as the Sept. 4 auction was not successful. The move could indicate one of two things: either the ministry has found buyers or, less probably, it is ready to borrow at higher rates.